4.7.4 Facility-of-Payment Provision
The facility-of-payment provision is found most often in industrial policies and grants the insurer the permission to pay out benefits or proceeds to any person appearing entitled if there is no beneficiary or if the insured or beneficiary is a minor or legally incompetent or:
- the beneficiary is deceased;
- if no claim is submitted within a specified period of time; or
- costs were incurred by another party for the deceased insured's final medical expenses or funeral expenses.